Why I have a position in LAZR
There's a lot to love when looking at this chart.
The first thing to notice is the huge triangle we are in, the expansion is only as big as the contraction. So we should see a lot of upside on this breakout.
Now notice how the volume has finally begun to pick up after declining for roughly 2 months of declining volume.
The red candle today still stayed above the 8 ema, looking at the OBV (On-Balance-Indicator) we are still on an uptrend, RSI needs to break above that resistance an more than likely that indicates the start of the breakout
Targets and Levels:
Need to hold $35 to continue on an uptrend
Break of $38 and we can test our green box target
Green box target is $40-$41.5
Final price projection is $45
The first thing to notice is the huge triangle we are in, the expansion is only as big as the contraction. So we should see a lot of upside on this breakout.
Now notice how the volume has finally begun to pick up after declining for roughly 2 months of declining volume.
The red candle today still stayed above the 8 ema, looking at the OBV (On-Balance-Indicator) we are still on an uptrend, RSI needs to break above that resistance an more than likely that indicates the start of the breakout
Targets and Levels:
Need to hold $35 to continue on an uptrend
Break of $38 and we can test our green box target
Green box target is $40-$41.5
Final price projection is $45
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.